netrashetty
Netra Shetty
East Resources, a natural gas drilling company, before selling the company to Royal Dutch Shell for approximately US$4.7 billion. Since his cashout, he has been known for his contributions to ice hockey; having donated US$88 million for the construction of the Pegula Ice Arena on the campus of Penn State University. On February 18, 2011, he bought the NHL's Buffalo Sabres (along with the Buffalo Bandits indoor Lacrosse franchise) from previous owners Tom Golisano, Larry Quinn, and Dan DiPofi for US$189 million.[2] Pegula's purchase made an immediate positive impact, with players,[3] fans and alumni[4] invigorated by his investment in the team. Pegula was quoted as saying that, "The sole purpose for the existence of the Buffalo Sabres is to win the Stanley Cup." [5] Pegula also owns a share of Black River Music Group.
On Tuesday February 22, 2011, Terrence M. Pegula became the fourth owner in Buffalo Sabres’ franchise history. Back in
1983, Terry told his business partner Robert H. Long, Jr., “If I ever have more than two nickels to my name, I’m going to
buy the Buffalo Sabres one day.” Now almost 30 years later, Terry’s dream has come to fruition.
Pegula’s interest in the NHL began when the Sabres faced the Philadelphia Flyers in the 1975 Stanley Cup Final. His affection for the “French Connection” Line began with that series, and led to his affinity for the Sabres franchise. While operating East Resources Inc. in Western New York and Pittsburgh throughout the 1980’s and 90’s, and living in Vestal, Olean
and Orchard Park during that span, Terry first bought season tickets at the Memorial Auditorium in 1980. He remained a
loyal Sabres season ticket holder for the next 18 seasons.
Born in 1951 and raised in Carbondale, PA, he attended high school at Scranton Preparatory School. Pegula entered Penn
State University as a Math major, but in order to stay in school he entered the Petroleum and Natural Gas Engineering
program through a scholarship. He went on to graduate with a Bachelor of Science degree in 1973, and landed his first
job with Getty Oil Co. in Victoria, TX. He later joined Felmont Oil Co., a decision that first brought him to Olean, NY, in
1975.
In 1983, he borrowed $7,500 from family and friends to found East Resources Inc., an independent oil and gas exploration and development company. Over the next 27 years, he built it into one of the largest privately held companies in the
United States. In July of 2010, Royal Dutch Shell purchased the assets of East Resources Inc. for $4.7 billion (US). That sale
allowed the Pegula’s to make their first foray into the hockey world.
On September 17, 2010, Terry and his wife Kim donated $88 million to Penn State University -- the largest private gift
in the history of the school -- to fund a state-of-the-art, multi-purpose arena, a world-class practice facility and help
to establish an NCAA Division I men’s hockey program. Thanks to their generosity, Penn State is now able to add both
men’s and women’s varsity hockey teams, and they will both begin play in the 2012-13 season. The building will include
two ice sheets, and serve as the only major ice facility within an 80-mile radius of State College. In addition to providing
hockey and figure skating opportunities for the entire Central Pennsylvania region, it will also be used for a broad range
of campus and community activities. With design and construction meetings being held currently, Penn State hopes to
break ground on the University Park campus for the Pegula Ice Arena later this year.
Terry and Kim currently reside in Boca Raton, FL, and have five children: Michael (32), Laura (28), Jessica (16), Kelly (14)
and Matthew (11). Pegula’s younger daughters Jessica and Kelly were both born in Buffalo. A native of nearby Rochester,
NY, Kim Pegula is a 1991 graduate of nearby Houghton College with a degree in Communications, and was involved with
East Resources since 1991. Together they have also founded Black River Music Group, a country music label based in
Nashville, TN, and Ayrault Sports Agency based in Charlotte, NC.
As president of the Buffalo Sabres, Ted will oversee all aspects of the day-to-day operations of the franchise, with specific
focus on making the Buffalo Sabres the premier destination for NHL players and the Sabres’ current and future employees. In addition, Ted will provide strategic and creative leadership in areas including corporate partnerships, advertising,
NHL relations, team marketing, Sabres’ television broadcasts, fan relations and ticket sales.
Over the last decade, Ted has compiled a track record of success and experience that few sports executives can match.
Ted is an accomplished leader who contributed to and presided over unprecedented growth with both the Pittsburgh
Penguins and FSN Pittsburgh. He enjoys close relationships with top executives, corporate sponsors, professional sports
teams, television networks and at the National Hockey League.
In late 2010, Terry Pegula enlisted Ted to undertake the task of assembling and leading the group of professionals to
advise Mr. Pegula on the acquisition of the Buffalo Sabres. Ted’s responsibilities included guiding the transaction negotiations, due diligence and NHL approval process.
Previously, Ted served as the Senior Vice President and General Manager of FSN Pittsburgh, a regional sports television
network that produced and telecast more than 220 live pro events and 1500 hours of programming per year. Under
Ted’s executive leadership, FSN Pittsburgh grew advertising revenues every year and telecast a record number of live pro
events. The station also generated record revenues, record earnings, record ratings and was widely recognized as the #1
rated US-based Regional Sports Network in the National Hockey League.
Prior to his tenure at FSN, Ted was a member of Mario Lemieux’s senior management team and served as Vice President
of the Pittsburgh Penguins from 1999 to 2008. Ted was a member of the core group of executives that helped Lemieux
execute one of the most successful franchise transformations in the history of professional sports. Ted was intimately
involved in all senior executive-level decisions and strategic planning concerning the marketing, branding, sales and
overall business operations and management of the team. In addition to being a key strategist during the Penguins’
efforts to get a new arena, Ted served as the day-to-day project leader for the new arena during the pre-construction
phase of the project. He also interviewed and helped to recruit Ray Shero to become the club’s General Manager. Ted was
active with the Wilkes-Barre/Scranton Penguins and served as the team’s Alternate Governor to the AHL.
In 2005, Ted was honored and recognized by Pittsburgh Magazine as a “Forty Under Forty” community leader.
Ted is a 1987 graduate of Allegheny College and he received his J.D. from the University of Pittsburgh School of Law in
1990. Ted will begin living and working in Buffalo immediately, and is looking forward to relocating his wife, Amy, and
their two hockey-playing sons, Andrew (18) and Nathan (15) to the area in the spring
On Tuesday February 22, 2011, Terrence M. Pegula became the fourth owner in Buffalo Sabres’ franchise history. Back in
1983, Terry told his business partner Robert H. Long, Jr., “If I ever have more than two nickels to my name, I’m going to
buy the Buffalo Sabres one day.” Now almost 30 years later, Terry’s dream has come to fruition.
Pegula’s interest in the NHL began when the Sabres faced the Philadelphia Flyers in the 1975 Stanley Cup Final. His affection for the “French Connection” Line began with that series, and led to his affinity for the Sabres franchise. While operating East Resources Inc. in Western New York and Pittsburgh throughout the 1980’s and 90’s, and living in Vestal, Olean
and Orchard Park during that span, Terry first bought season tickets at the Memorial Auditorium in 1980. He remained a
loyal Sabres season ticket holder for the next 18 seasons.
Born in 1951 and raised in Carbondale, PA, he attended high school at Scranton Preparatory School. Pegula entered Penn
State University as a Math major, but in order to stay in school he entered the Petroleum and Natural Gas Engineering
program through a scholarship. He went on to graduate with a Bachelor of Science degree in 1973, and landed his first
job with Getty Oil Co. in Victoria, TX. He later joined Felmont Oil Co., a decision that first brought him to Olean, NY, in
1975.
In 1983, he borrowed $7,500 from family and friends to found East Resources Inc., an independent oil and gas exploration and development company. Over the next 27 years, he built it into one of the largest privately held companies in the
United States. In July of 2010, Royal Dutch Shell purchased the assets of East Resources Inc. for $4.7 billion (US). That sale
allowed the Pegula’s to make their first foray into the hockey world.
On September 17, 2010, Terry and his wife Kim donated $88 million to Penn State University -- the largest private gift
in the history of the school -- to fund a state-of-the-art, multi-purpose arena, a world-class practice facility and help
to establish an NCAA Division I men’s hockey program. Thanks to their generosity, Penn State is now able to add both
men’s and women’s varsity hockey teams, and they will both begin play in the 2012-13 season. The building will include
two ice sheets, and serve as the only major ice facility within an 80-mile radius of State College. In addition to providing
hockey and figure skating opportunities for the entire Central Pennsylvania region, it will also be used for a broad range
of campus and community activities. With design and construction meetings being held currently, Penn State hopes to
break ground on the University Park campus for the Pegula Ice Arena later this year.
Terry and Kim currently reside in Boca Raton, FL, and have five children: Michael (32), Laura (28), Jessica (16), Kelly (14)
and Matthew (11). Pegula’s younger daughters Jessica and Kelly were both born in Buffalo. A native of nearby Rochester,
NY, Kim Pegula is a 1991 graduate of nearby Houghton College with a degree in Communications, and was involved with
East Resources since 1991. Together they have also founded Black River Music Group, a country music label based in
Nashville, TN, and Ayrault Sports Agency based in Charlotte, NC.
As president of the Buffalo Sabres, Ted will oversee all aspects of the day-to-day operations of the franchise, with specific
focus on making the Buffalo Sabres the premier destination for NHL players and the Sabres’ current and future employees. In addition, Ted will provide strategic and creative leadership in areas including corporate partnerships, advertising,
NHL relations, team marketing, Sabres’ television broadcasts, fan relations and ticket sales.
Over the last decade, Ted has compiled a track record of success and experience that few sports executives can match.
Ted is an accomplished leader who contributed to and presided over unprecedented growth with both the Pittsburgh
Penguins and FSN Pittsburgh. He enjoys close relationships with top executives, corporate sponsors, professional sports
teams, television networks and at the National Hockey League.
In late 2010, Terry Pegula enlisted Ted to undertake the task of assembling and leading the group of professionals to
advise Mr. Pegula on the acquisition of the Buffalo Sabres. Ted’s responsibilities included guiding the transaction negotiations, due diligence and NHL approval process.
Previously, Ted served as the Senior Vice President and General Manager of FSN Pittsburgh, a regional sports television
network that produced and telecast more than 220 live pro events and 1500 hours of programming per year. Under
Ted’s executive leadership, FSN Pittsburgh grew advertising revenues every year and telecast a record number of live pro
events. The station also generated record revenues, record earnings, record ratings and was widely recognized as the #1
rated US-based Regional Sports Network in the National Hockey League.
Prior to his tenure at FSN, Ted was a member of Mario Lemieux’s senior management team and served as Vice President
of the Pittsburgh Penguins from 1999 to 2008. Ted was a member of the core group of executives that helped Lemieux
execute one of the most successful franchise transformations in the history of professional sports. Ted was intimately
involved in all senior executive-level decisions and strategic planning concerning the marketing, branding, sales and
overall business operations and management of the team. In addition to being a key strategist during the Penguins’
efforts to get a new arena, Ted served as the day-to-day project leader for the new arena during the pre-construction
phase of the project. He also interviewed and helped to recruit Ray Shero to become the club’s General Manager. Ted was
active with the Wilkes-Barre/Scranton Penguins and served as the team’s Alternate Governor to the AHL.
In 2005, Ted was honored and recognized by Pittsburgh Magazine as a “Forty Under Forty” community leader.
Ted is a 1987 graduate of Allegheny College and he received his J.D. from the University of Pittsburgh School of Law in
1990. Ted will begin living and working in Buffalo immediately, and is looking forward to relocating his wife, Amy, and
their two hockey-playing sons, Andrew (18) and Nathan (15) to the area in the spring